The only thing that is bad for gold is if Janet Yellen goes Paul Volcker and really decides to jack interest rates up so that real interest interest rates spike up. That would be negative for gold. Just a quarter point interest rate hike? The inflation is going to be rising faster than any Fed rate hikes. The Federal Reserve is going to be behind the curve the entire time. (SPDR Gold Trust ETF (GLD), Market Vectors Junior Gold Miners ETF (GDXJ), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG), Hecla Mining (NL))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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- Why Does Wall Street Prefer Hillary Clinton?
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- A Very Suspicious GDP Number
- Why Is Consumer Confidence Dropping
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- Markets: Gold, Economic Recovery & Fed Policy
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